Indian DRI, billet and rebar update - 25 Oct
India’s induction furnace (IF) steel market witnessed a mixed trend in prices on 25 October, 2023, across regions as offers floated by the mills varied in the r...
India's induction furnace (IF) steel market witnessed a mixed trend in prices on 25 October, 2023, across regions as offers floated by the mills varied in the range of INR 50-1,000/tonne (t) d-o-d compared to the previous trading session.
Sponge iron prices increased in the range of INR 50-200/t, with the Ramgarh and Jharsuguda markets witnessing the sharpest rise.
Billet prices varied in the range of INR 50-1,000/t. The Chennai market dropped sharply by INR 1,000/t, while a price rise of INR 300/t was seen in the Raigarh market.
Rebar (Fe 500) offers varied in the range of INR 100-700/t. The Ahmedabad market declined by INR 700/t, while a price rise of INR 250/t was seen in the Raigarh market.
Average trades were observed in the spot market today as it reopened after the festival holidays. The inventory pressure is preventing sellers from making abrupt increases in offer rates.
Click here for re-bar brand wise details.
